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Top 500 corporations show strong growth

The Registrar of Indigenous Corporations, Mr Anthony Beven, has today released his annual report on the top 500 Aboriginal and Torres Strait Islander corporations.

This is the second report of its kind which provides analysis on the top 500 corporations registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006. Corporations are ranked based on their income in the 2008–09 financial year.

The report highlights the significant contribution that Aboriginal and Torres Strait Islander corporations make to the Australian economy, through income generation, employment and the provision of services.

The report highlights growth in the total income generated to $1.18 billion in 2008–09, up $101 million from 2007–08. The top 500 corporations also held a total of $1.22 billion in assets.

The corporations add significant value to local Aboriginal and Torres Strait Islander communities, functioning across a wide range of sectors, and employing over 9100 people nationally.

Mr Beven said, ‘The report shows the continuing growth of Aboriginal and Torres Strait Islander corporations and the important role that these leading corporations have in building strong Aboriginal and Torres Strait Islander communities.’

This year’s report includes a case study of one of the top 500 corporations. The Arnhem Land Progress Aboriginal Corporation (ALPA) provides community stores to communities in Arnhem Land. ALPA is Aboriginal owned and controlled.

Anthony Beven said, ‘The Yolgnu people have built a leading Northern Territory retailer that contributes significantly to the Territory economy while providing high quality and affordable food. Many other corporations have similar stories of success.’